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- Title
2016 Small-Dollar Lending Update: An Obituary or a Re-Awakening?
- Authors
Brennan, Catherine M.; Hosie, Justin B.; Wilson, K. Dailey; Kramer, Erica A. N.
- Abstract
The article offers information on the legal challenges and developments faced by the small-dollar lenders in the U.S. in 2016. Topics discussed include a proposed rule by the U.S. Consumer Financial Protection Bureau regarding the repayment ability of the loanee, the limitations on consumer credit under the proposal, and legal enforcement actions taken by CFPB in this regard including consent orders with lenders Westlake Services LLC and EZCORP Inc.
- Subjects
LEGAL status of moneylenders; LOAN laws; UNITED States. Consumer Financial Protection Bureau; CONSUMER credit laws; CONSENT decrees; WESTLAKE Services LLC; EZCORP Inc.
- Publication
Business Lawyer, 2017, Vol 72, Issue 2, p539
- ISSN
0007-6899
- Publication type
Article